Zebpay has reportedly set up operations, in the form of two companies, in Malta and Singapore.
According to the cryptocurrency exchange’s website, a Maltese registered company called Awlencan Innovations Malta, owns and operates Zebpay’s VFA (virtual financial assets) exchange platform in Malta.
As per a report by Bitcoin.com, a community of blockchain and cryptocurrency enthusiasts called IndiaBits tweeted that both the Malta and Singapore operations will provide exchange and over-the-counter services to 20 European countries including France, Germany, Ireland, Italy, and more.
@Zebpay is not shutting down, it is setting up for global domination
— IndiaBits (@indiabits21) October 12, 2018
This is supposedly Zebpay’s foray into global markets but, according to a report by Coingeek, services will not be extended to customers in the US and Japan, as well as to restricted jurisdictions such as Iran and Venezuela.
This comes nearly a month after Zebpay announced it would be shutting down exchange services in India, due to the Reserve Bank of India’s ban on banks providing financial services to any individual and/or business dealing in cryptocurrency.